Albuquerque, NM, January 9, 2015 – The Greater Albuquerque metro finished 2014 with 3,850 single-family detached homes for sale, which was .36% higher than the same month the prior year. There were 789 new single-family homes listed for sale in the month of December, substantially lower than the 903 which were listed in December 2013.
December closed sales of single-family detached home were higher than the number of sales in December 2013 by one sale. The increase over December 2013 sales of 655 was a .15% increase.
The median sales price of a single-family detached home for December was $177,000. This was a 4.3% decrease from December 2013 when the median price was $185,000. The average sales price for December 2014 dropped 3.8% from last year to $211,523. The top selling price range for single-family detached homes was $200,000 to $249,999. Of the 656 closed sales, 62.5% of them were between the price ranges of $100,000 to $249,999.
“December is traditionally a very slow month for real estate, even so, total sales in December were higher than November.” said Paul Wilson, 2015 President of the Greater Albuquerque Association of REALTORS®. “Affordability coupled with attractive interest rates is a bonus for homebuyers.” he said.
To see the full report for December market statistics, go to GAAR.com and click on Market Statistics.
The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 3,000 members pledged to a strict Code of Ethics and Standards of Practice. Established in 1921, GAAR is recognized as a leading provider of real estate information services, data and education in New Mexico.